Trends in Talent Acquisition

Submitted by Volt Workforce Solutions, March 2011 How Can Procurement Assist HR in a Recovering Economy? Consider RPO Quarterly profits by U.S. co

GET NOTIFIED WHEN WE POST SOMETHING NEW!

Recent Posts

Older Posts

Article contributed by Volt Workforce Solutions, March 2011

How Can Procurement Assist HR in a Recovering Economy? Consider RPO
Quarterly profits by U.S. companies are improving, and there is strong employment growth in the contingent staffing sector. An improving economy means procurement professionals can shift their focus from cost reduction policies to post-recessionary strategies for driving growth.

On the other hand, human resources (HR) departments are facing their own challenges - doing more with less, growing policy and compliance responsibilities and sifting through mountains of resumes. Given these circumstances, now is an opportune time for procurement to assist HR as a strategic partner in acquiring talent.

One way this can be accomplished is through recruitment process outsourcing (RPO), which offers a scalable, flexible tool for handling recruitment transactions. Most commonly, RPO is defined as the outsourcing of some recruitment activities for selected categories of employees. Individual RPO program components may include:
  • Candidate sourcing
  • Resume screening
  • Testing/assessment
  • Background verification
  • Offer process
  • On-boarding/orientation
  • Performance management
Looking at adoption rates of RPO, a recent survey of business professionals conducted by the Human Capital Institute indicates that approximately 59 percent of organizations surveyed currently outsource some or all of their recruiting processes.

Another recent study identifies the key reasons organizations outsource some or all of their recruiting activities through RPO , including the need to focus on core competencies and greater flexibility in recruiting to respond to variable business cycles, and the need for measurable results in recruiting.

RPO Programs Help Answer Important Questions
Engaging with a third party RPO specialist can facilitate your recruiting process and ultimately your workforce design by helping you answer the following questions:
  • What is the current state of talent sourcing in your organization (centralized or decentralized)?
  • What is the desired future state (anticipated recruiting volumes)?
  • What niche or specialized recruiting resources are required?
  • What mix of full-time equivalents to temporary or contingent labor is required?
  • Who are the key stakeholders within the organization to participate in the process?
  • How to communicate your business needs to the marketplace in an RFP
  • How to define rules for implementing RPO
  • What recruiting metrics or other labor spend ROI are desired/required?
RPO Program Measurement Metrics
Once RPO programs are in place, organizations have the ability to establish baseline metrics and continuously track their performance by measuring:
  •     Reduced cost and time to hire
  •     Increased new hire retention
  •     Improved hiring manager satisfaction
In addition to optimized recruitment results and a streamlined process, collaboration between procurement and HR creates an interactive dialogue and builds teamwork, accountability and trust.